MLIKI-THE WORLD FIRST HYBRID MARKETPLACE

ABSTRACT

The fast advancement of technology has prompted many individuals and businesses to reconsider their business strategies. Digitalization in business is a big part of a lot of them. New methods to communicate, cooperate, sell, connect, and streamline transactions have emerged as a result of digitalization.

Conventional commerce is becoming unpopular as digitalization increases efficiency, easy access, marketing, productivity, promotion, and communication. eCommerce used to be a solitary experience with no social or emotional appeal, entirely at odds with what most purchasers want and expect from a purchasing experience.

Shopping is often a social activity. Customers prefer to buy with friends and family and share their experiences and opinions with their peers. When customers transact online, they anticipate a comparable social experience. Social Commerce was born out of shoppers’ desire to learn more about a product from their friends or relatives before purchasing it. Social Commerce is a relatively recent phenomenon that has swept the e-commerce industry.

Unlike many other technologies that have come and gone over the years, Social Commerce has taken off quickly. Social Commerce has taken word-of-mouth where it never really existed before, the online shopping world. People may now shop and compare prices to obtain better offers.

Retailers benefit from Social Commerce since it allows them to reach a broader audience through collaborative shopping. Many companies have been able to adopt this subset of ecommerce; however, there is the issue of security, site crash, and platform differentiation.

Users can’t purchase physical goods on the same platform where digital goods purchasing such as NFT, Metaverse NFT items are sold.

Mliki aims to solve this problem by introducing a hybrid marketplace. It aims to shift the dynamic by using blockchain to create a platform that makes it possible to purchase physical items and digital goods like NFTs on it.